Craig Hallum Forecasts Strong Price Appreciation for PAR Technology (NYSE:PAR) Stock

PAR Technology (NYSE:PAR) had its target price hoisted by analysts at Craig Hallum from $65.00 to $85.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s price target would suggest a potential upside of 13.47% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Stephens boosted their target price on shares of PAR Technology from $70.00 to $83.00 and gave the company an “overweight” rating in a research note on Monday. Benchmark reiterated a “buy” rating and set a $69.00 target price on shares of PAR Technology in a research note on Friday, August 9th. Needham & Company LLC boosted their price objective on shares of PAR Technology from $66.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group boosted their price objective on shares of PAR Technology from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, StockNews.com raised shares of PAR Technology to a “sell” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PAR Technology presently has an average rating of “Moderate Buy” and a consensus price target of $77.38.

PAR Technology Price Performance

Shares of NYSE PAR opened at $74.91 on Monday. PAR Technology has a twelve month low of $33.13 and a twelve month high of $75.57. The firm has a market cap of $2.72 billion, a P/E ratio of -299.64 and a beta of 2.14. The company has a 50 day moving average of $57.93 and a 200 day moving average of $51.48. The company has a quick ratio of 2.80, a current ratio of 3.12 and a debt-to-equity ratio of 0.64.

PAR Technology (NYSE:PAR) last announced its earnings results on Friday, November 8th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $96.80 million during the quarter, compared to analyst estimates of $91.01 million. PAR Technology had a net margin of 0.44% and a negative return on equity of 10.93%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) EPS. As a group, research analysts expect that PAR Technology will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in PAR Technology by 43.4% in the 1st quarter. Capital Research Global Investors now owns 3,530,843 shares of the software maker’s stock worth $155,670,000 after buying an additional 1,068,641 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PAR Technology by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,159,383 shares of the software maker’s stock valued at $97,950,000 after purchasing an additional 50,793 shares during the last quarter. Progeny 3 Inc. boosted its holdings in shares of PAR Technology by 10.9% during the 2nd quarter. Progeny 3 Inc. now owns 1,320,858 shares of the software maker’s stock valued at $62,199,000 after purchasing an additional 129,810 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of PAR Technology by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,184,279 shares of the software maker’s stock valued at $61,677,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of PAR Technology by 6.4% during the 3rd quarter. Reinhart Partners LLC. now owns 946,773 shares of the software maker’s stock valued at $49,308,000 after purchasing an additional 57,049 shares during the last quarter.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.